Watson is the name of IBM’s Artificial intelligence platform, not related to the renowned Sherlock Holmes novels, but a tribute to IBM’s first CEO, Thomas J. Watson.
First introduced to the world on an episode of Jeopardy, Watson AI Platform was invented to solve businesses challenges like, uncover insights, engage in new ways and make decisions with more confidence through Artificial intelligence (AI).
IBM was established 106 years ago. In a recent interview with IBM’s Chairman and CEO, Ginni Rometty, she attributed IBM’s continued success to its ability to reinvent itself to reflect the times.
Rometty also highlighted the importance of data for businesses today.
Watson (AI platform) captures data of all kinds and understands reason and learns through data which enables better decision-making as the technology has not been programmed or is not based on a predetermined algorithm outlined by people like every other device or software in the world.
AI technologies have the ability to assist better decision-making and Rometty estimates that there is a market of 2 trillion dollars for making better decisions.
AI technology could alter decision-making as we know it but also can help with accuracy in terms of targeting and even content creation.
IBM recognised the potential of AI in advertising and have launched a new advertising division. It’s broken into four areas of advertising that can leverage on AI technology these are;
1. Audience targeting
2. Real-time optimisation
4. Content Creation
Marketers all over the world will be thrilled to think AI technologies could solve the ongoing challenges for marketing department’s decision-making process.
According to Statista, revenue from AI services worldwide is expected to grow from $2.4 billion in 2017 to $4.1 billion in 2018 to $59.8 billion in 2025.
If these estimates come true we are in for a dramatic change in business and technology.